The active listing count is lower compared to last month in every market except Blackfalds. The reduction isn’t massive, but it is the path to a balanced market which is what we need to stabilize prices. The sales count in the first half of October is also lower than last month, but higher than a year ago. The market still favours buyers; but may be finally turning.
Serious buyers may want to consider the impact of an almost certain interest rate increase on October 25th (the next date that the Bank of Canada sets its rate). Most pundits are certain that rate will go up because inflation is up. The banks often raise mortgage rates before that date in anticipation of a rate increase.